Wall Street Targets To Higher Open

Initial trends on the U.S. Futures Index suggest that Wall Street might open positive on Monday.

The personal income and spending report and other inflation readings might be important this week.

Coca-Cola (KO), Alphabet (GOOGL), Tesla (TSLA), and IBM Corp. (IBM) will be reporting quarterly in the coming days.

In the Asian trading session, gold held steady above $2,400 per ounce while oil prices edged up slightly.

Asian shares finished mostly lower, while European shares are trading positive.

As of 8.05 am ET, the Dow futures were gaining 63.00 points, the S&P 500 futures were adding 33.75 points and the Nasdaq 100 futures were progressing196.75 points.

The U.S. major averages all finished the day firmly in negative territory. The Dow slumped 377.49 points or 0.9 percent to 40,287.53, the Nasdaq slid 144.28 points or 0.8 percent to 17,726.94 and the S&P 500 fell 39.59 points or 0.7 percent to 5,505.00.

On the economic front, the Chicago Fed National Activity Index for June will be released at 8.30 am ET. The consensus is 0.10, while it was up 0.18 in the prior month.

The six-month Treasury bill auction will be held at 11.30 am ET.

Asian stocks fell broadly on Monday. China’s Shanghai Composite index dropped 0.61 percent to 2,964.22.

Hong Kong’s tech-heavy Hang Seng climbed 1.25 percent to 17,635.88.

Japanese markets fell sharply. The Nikkei average dropped 1.16 percent to 39,599, extending losses for a fourth straight session. The broader Topix index settled 1.16 percent lower at 2,827.53.

Australian markets closed lower. The benchmark S&P/ASX 200 were down half a point to 7,931.70 while the broader All Ordinaries index ended down 0.52 percent at 8,166.40.

Woodside Energy fell 2.1 percent after it has entered a definitive agreement to acquire U.S. liquefied natural gas developer Tellurian.

Diversified miner South 32 plummeted 12.6 percent after reporting $818 million of impairment charges.

Across the Tasman, New Zealand’s benchmark S&P/NZX-50 index slipped 0.13 percent to 12,309.91.

U.S. stocks ended firmly in the red on Friday amid a continued selloff in technology stocks. Also, a major global technical outage added uncertainty to an already-anxious market.

The tech-heavy Nasdaq Composite shed 0.8 percent and the S&P 500 gave up 0.7 percent to post their biggest weekly losses since April while the Dow declined 0.9 percent and managed to post a slight gain for the week.

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